Everything You Need To Know About Lead Management

Leads are the lifeblood of all businesses, both online and offline. As a result, 53% of marketers invest at least half of their money to lead generation. However, 79% of marketing leads never convert into sales. This is when lead management enters the picture. Lead management allows you to nurture leads that did not convert to the point where they trust your company enough to buy from them. Potential consumers are all over the place, such as on your social media page, through friend referrals, or by frequently reading your blog entries. It is your responsibility as a business owner to put up a suitable management system that catches these consumer leads and nurtures them til they are ready to purchase.

Are you finding it difficult to maintain consistency in lead management? Don't be concerned. This article will cover everything you need to know about lead management.

salesforce-lead-management

Lead Management – The Core Principle Of Successful Businesses

The process of getting new leads, evaluating their quality, engaging with them, and nurturing them is known as lead management. It enables you to spend on leads that will generate revenue and prevent opportunities from slipping through the cracks. While we'd want to think of each new contact as a qualified lead ready to buy, this isn't always the case. Lead management assists you in understanding the many types of leads you have and where they are in the buyer's journey. It's vital to remember that a lead's road to purchase isn't always straightforward. They may need to revisit prior phases of the buyer's journey or may require further nurturing to lead them toward a purchase decision.

The lead management process is often divided into four steps:

Lead generation:

It is a type of inbound marketing technique that tries to catch the interest of a lead through customized content methods.

Lead nurturing:

This is a comprehensive process of building relationships with potential clients, even if they are not yet ready to buy a product or service. Lead nurturing's purpose is to convert leads into customers.

Closing the deal:

This phase is self-explanatory: you close the deal! However, it also entails switching the lead from MQL to SQL. The sales staff then takes over and employs several closing approaches.

Following Up:

Following up after a customer has been converted is vital to ensure that they are happy with the product or service and to upsell them on additional items or services that they may be interested in.

Why Is Lead Management Important?

Did you know that just 25% of the leads in your sales pipeline are genuine? Creating leads can be a time-consuming and costly process. As a result, good management of them is critical. There are five elements to effectively handling your leads.

  • Lead management assists in getting the proper leads into your CRM
    Lead qualification is a type of lead management process. This procedure assists you in distinguishing between qualified and unqualified leads. Using this method, you may focus on high-value prospects and optimize sales chances rather than spending time on unqualified leads.
  • Lead management allows you to make the most of your marketing budgets and tactics
    Lead management makes it simple to find the finest platforms for generating leads for your company. This will allow you to concentrate on the platforms, maximizing your advertising budget and marketing methods.
  • Lead management improves the purchasing experience
    Data gathered through Lead management is useful for sending instructional resources that might assist leads in making informed purchasing decisions.
  • Lead management helps Increase customer retention and loyalty
    By offering a positive customer experience, you enhance the likelihood that your customers will return and even suggest you to others.
  • Lead management boosts marketing and sales output
    When you know the quality of your leads, you can prioritize them and pass the leads with the highest conversion rate to the sales team. This improves the efficiency of the marketing and sales teams.

Lead management is thus an essential tool for any firm seeking to boost sales and revenue. Lead management, when done correctly, may help you better understand your target market, enhance the quality of your leads, and increase sales.

So, how do you do it correctly?

5 Steps to create a lead capture system that works

The stages of creating an effective lead capture system for your organization are outlined below.

1. Understand the goal of lead capture

how-lead-capture-form

Understanding how lead capture fits into your sales funnel is the first step in developing a lead capture system that works for your company. There are three steps in the sales funnel: awareness, consideration, and conversion. Lead capture can be used to create sales by moving website visitors from the awareness stage to the conversion step. Once you've determined your goal, the next step is to choose a lead generation offer.

2. Offer Lead magnet

lead-magnet-offer

According to a wpforms survey, 50% of marketers who started using lead magnets experience increased conversion rates. You can use ebooks, content upgrades, checklists, cheat sheets, swipe files, script, tool kits, resource lists, calendars, free tools, calculators, and other similar offers. Give them the offer in return for their contact details.

3. Build an eye-catching lead capture page

build-an-eye-catching-lead-capture-page

After you've finished developing your lead magnet, you'll need to create a lead capture page. This is the page that visitors will arrive at after clicking on your lead magnet CTA. On this page, you must persuade them to download your lead generation offer. This can be accomplished by including an engaging title, a clear description of what the user will receive after downloading the e-book, and a clear instruction on how to obtain it - "Fill the fields below to gain access." You can also incorporate a clear image of the thing you're selling to entice viewers. Finally, to persuade readers to click and download, make minor tweaks such as making the CTA button sharp and clear with the message "Download for free."

Segment visitors to personalize your lead magnets

audience-segmentation

All of the preceding points are valid. In practice, though, each website visitor is unique, with unique requirements and challenges. So why should we expect everyone to respond positively to a single offer? Segment and personalize your lead magnets if you want to provide something truly valuable. Audience segmentation divides your website visitors into certain categories of people. Each segment will then receive a more personalized offer in order to convert them into leads. You may categorize your new, unknown visitors depending on the following factors: referral source, geography, type of content, buyer profile, and more.

Automate your lead-capturing system

lead-capturing-automation-software

As your company expands, so will your lead volume, which means you'll need to automate your lead-capturing system to make things easier for you. This is especially true if you produce leads for your company through Facebook, LinkedIn Lead Gen Forms, or Google Ads. Without automation, you'll have to manually collect it from the site and then copy it into your CRM.

What is the Return On Investment of a Lead Management System?

Every company wants to scale, grow, and achieve ROI. But what is the return on investment of a lead management system? A lead management system in place can increase sales as well as better follow-ups. According to Strategic IC, sales teams follow up on more than 75% of leads for 46% of marketers who have a well-planned lead management strategy. Did you know that nurturing leads with gated content relevant to their interests can result in a 73% higher conversion rate? A lead management system can also assist you in meeting sales targets, achieving a 9.3% higher sales quota completion rate.

Reach out to the qualified Prospects

In Conclusion

That's all there is to it! We hope this comprehensive guide has helped you understand what lead management is and how to set up an effective lead management system for your company.

Let's go over the important points we discussed briefly:

  1. Lead management tracks, prioritize, and manages individuals and businesses who may become consumers.
  2. The process provides you with actionable data on your leads, boosts sales and productivity, and puts you ahead of the competition.
  3. The five main steps you must take to establish a sufficient lead management process are as follows:
  • Understand the goal of lead capture
  • Offer Lead magnet
  • Build an eye-catching lead capture page.
  • Segment visitors to personalize your lead magnets
  • Automate your lead-capturing system

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